In debt recovery in order to succeed more often than not you must be prepared to go all the way within the confines of the law, that’s the Chicago way to coin a phrase from the well known film The Untouchables. Now of course we’re not suggesting like the film you get into a gun fight with your debtors, but like the film those that are best equipped for the fight win and reap the rewards.
In consideration of the above it is no surprise that Master Collections has a 95% success rate at small claims hearings for matters up to £10,000, and our panel solicitor has a 100% settlement rate for claims above £10,000. Put simply by investing in Master Collections you are investing in winners.
Case Study
Master Collections helped an Electrical Wholesaler and Distributor (Our Client) successfully apply for Summary Judgment where the court awarded Judgment without the need for the matter to be determined at trial. As a result Our Client did not have to wait several months from the date the Defendant defended the claim for the matter to be resolved.
The debtor owed Our Client £2065 and with our help including debt collection costs, late payment interest and compensation Our Client issued a claim for £2902. The Defendant was clearly a player using the court system to drag the matter out as long as possible. For starters they filed the acknowledgement of service at the 11th hour; they then applied to have the hearing transferred to their local court even though being a limited company they were not entitled to an automatic transfer. Furthermore the Defence was a nonsense alleging that not all invoices were signed by authorised signatories. This frustrated Our Client. As a result Master Collections helped Our Client prepare an application for Summary Judgment (the Application) in the confidence a court would grant the same because the Defendant did not dispute receipt of the goods and the signatures on the invoices matched the signature of the statement of truth on the Defence. The Application was made before the claim was allocated to the small claims track in the knowledge as a result we could claim costs and keep the matter at Our Client’s local court in Horsham, therefore requiring the director of the Defendant to travel 60 miles to attend the hearing.
By the time the Application was heard as a result of Counsel, Witness costs, courts fees and further interest the claim reached £3,877. Half an hour before the hearing the director of the Defendant called to say he had been involved in a road traffic accident and could not make the hearing, but nevertheless admitted the claim and paid the full sum of £3,877 over the telephone with a debit card. On balance although convenient the director was involved in a road traffic accident half an hour before the hearing, it is safe to say he cracked under pressure because Our Client was equipped to beat the Defendant into submission, the Chicago Way.
The Chicago Way doesn’t stop at outsmarting players as above, when it comes to enforcing County Court Judgments at Master Collections we take no prisoners. This includes registering Charging Orders on debtor’s properties and if need be forcing a sale. Furthermore not giving in to unreasonable payment plan requests when there are assets to seize in satisfaction of a County Court Judgment, indeed through our appointed Enforcement Officer we seized two vehicles belonging to a debtor and sold the same at auction.
Want to find out more?
If you are owed money and want to find out how Master Collections can help recover your debts the Chicago Way call award winning credit professional and Legal Executive Carlo Pegna on 01920 481467 for a FREE debt recovery assessment.